Instructor(s): Jeffrey MacIntosh
Prerequisites
Business Organizations
Pre-requisites/Co-requisites
Securities Regulation

For graduate students, the course number is LAW2059H.

This course will meet exclusive remotely once a week, via audio-visual conference. To enrol in this course all students must meet or exceed the tech requirements for enrolment in University of Toronto courses, which can be found here [https://www.viceprovoststudents.utoronto.ca/students/tech-requirements-online-learning/]

This course will focus on the challenges of start-up and other small technology firms, and will cover the following topics:

  • Early stage sources of capital including:
    • Founder/family/friends
    • Angel investors
    • Venture Capitalists
    • Crowdfunding
    • Incubators/accelerators
    • Government funding
    • Strategic investors/partners
  • Financing options by stage of development
  • Why bank financing is not usually available
  • Later stage sources of funding including:
    • Private equity
    • Initial public offerings
    • Initial token offerings
    • Specialized debt financiers (e.g. mezzanine and bridge financing)
  • How Canadian venture capital compares to venture capital in other countries
  • The venture capital term sheet (i.e. the typical terms in the contract between a venture capitalist and investee firm)
  • Venture capital exits, with a focus on initial public offerings and sales of the firm to a strategic buyer

The course will involve a significant number of visits by various market actors, including angel investors, venture capitalists, private equity financiers, tech firm lawyers, investment bankers, senior stock exchange personnel, and others.

Note: This course will be taught entirely remotely (although interactively) for 2 hours/week on ZOOM.

Evaluation
A paper of approximately 6500-7000 words in length.
Academic year
2020 - 2021

At a Glance

Second Term
Credits
3
Hours
2
Perspective course

Enrolment

Maximum
30

23 JD
7 LLM/SJD/MSL/NDEGS/SJD U

Schedule

T: 5:00 - 6:30 pm (AV Conference)